Which of the following will be included in the adjusting entry to accrue interest expense?

The Lloyd Legal Agency agreed to represent a client at a rate of $5000 per month. A six month  prepayment was required prior to the Lloyd agency beginning to work because the new client was a new business with relatively no credit history.  Payment was made and services began on November 1, 20X6. December 31, 20X6 is the end of the Lloyd agency accounting year.  What is the November 1, 20X6 entry to record the prepayment? (ignore VAT)

The Lloyd Legal Agency agreed to represent a client at a rate of $5000 per month. A six month  prepayment was required prior to the Lloyd agency beginning to work because the new client was a new business with relatively no credit history.  Payment was made and services began on November 1, 20X6. December 31, 20X6 is the end of the Lloyd agency accounting year.  What is the entry to make the necessary adjustment on December 31, 20X6? (ignore VAT)

The revenue recognition principle mandates that revenue be recorded:

A business purchased an asset that had a total cost of $125000 and a residual value of $5000. The asset is expected to service the business for a period of 5 years.  The machine was purchased on January 1^st of the current year and has been in service one complete year.  

If business used double declining balance method (aka reducing-balance method) and rate of 40%, how much the annual depreciation for year 3 would be? (ignore VAT)

The entry to record the annual depreciation includes (ignore VAT):

A business purchased an asset that had a total cost of $125000 and a residual value of $5000. The asset is expected to service the business for a period of 5 years.  The machine was purchased on January 1^st of the current year and has been in service one complete year.  

Business is using straight-line method. What would be the carrying value after two years? (ignore VAT)

A business purchased an asset that had a total cost of $125000 and a residual value of $5000. The asset is expected to service the business for a period of 5 years.  The machine was purchased on January 1^st of the current year and has been in service one complete year.  

 What is the depreciable cost of the asset? (ignore VAT)

A business purchased an asset that had a total cost of $125000 and a residual value of $5000. The asset is expected to service the business for a period of 5 years.  The machine was purchased on January 1^st of the current year and has been in service one complete year.  

If business used double declining balance method (aka reducing-balance method) and rate of 40%, how much the annual depreciation for year 1 would be? (ignore VAT)

A business purchased an asset that had a total cost of $125000 and a residual value of $5000. The asset is expected to service the business for a period of 5 years.  The machine was purchased on January 1^st of the current year and has been in service one complete year.  

What is the amount of depreciation in year two of the asset’s life using the straight line method? (ignore VAT)